Saudi ICT infrastructure market set for 9% growth by 2030

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  • The growing Bring Your Own Device trend is resulting in increased demands to improve telecom connectivity

  • The government initiatives for commercialization of 5G network, and upgradation of existing telecom infrastructure are also expected to spur growth

Saudi Arabia’s market for infrastructure for Information and Communications Technology or ICT is forecast to grow at a compound annual growth rate or CAGR of 9.01% until 2030, said local reports on Tuesday, July 27.

The reports quoted market intelligence firm TechSci Research as saying that this expansion will take place from sector’s 2020 market value of $1.54 billion.

Growth in this market is expected to be driven by increasing spending in the telecom and ICT industry by the Saudi government.

By definition, telecom ICT infrastructure includes all the information and communication technology infrastructure and systems used in an organization, like software, hardware, firmware, networks, and company websites.

The growing Bring Your Own Device trend is resulting in increased demands to improve telecom connectivity across various enterprises, said the reports.

The government initiatives for commercialization of 5G network, and upgradation of existing telecom infrastructure are expected to spur growth.

Increasing cellular internet penetration and growing cloud adoption are also anticipated to fuel the market growth through 2030.

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